Advertisement

BTG expects full-year revenues at 'top end' of guidance

Specialist healthcare company BTG said Thursday it expects full-year revenues at the 'top end' of it guidance following strong trading of the group's medical products.

Specialist healthcare company BTG said Thursday it expects full-year revenues at the 'top end' of it guidance following strong trading of the group's medical products.

The FTSE 250 business said the last three months have wielded positive results, particularly from acute care items.

The board anticipates revenues for the year to March 31st 2013 to reach the higher point of its estimate between £205m to £215m.

Advertisement - Article continues below

Financial results were boosted by operational progress including its interventional medicine business, according to BTG.

Last year BTG was granted approval in the US for its PARAGON Bead and PRECISION Bead products for the treatment of intrahepatic cholangiocarcinoma (cancer of the bile ducts) and uveal melanoma (eye cancer) respectively.

BTG is also seeking approval of Varisolve as a comprehensive treatment for varicose veins which will be submitted to the US Food & Drug Administration (FDA) within the next few days.

During the period, BTG made headway in partnered programmes. Zytiga received US and European label extensions to treat men with metastatic castration-resistant prostate cancer who have not received prior chemotherapy.

The FDA accepted a standard review of Sanofi and its subsidiary Genzyme's Biologics License Application for the approval of Lemtrada for the treatment of relapsing multiple sclerosis. A response to the application is expected in the second half of this year.

"We have continued to make excellent operational and financial progress and now expect full year revenues to be around the top end of previous guidance," said Chief Executive of BTG, Louise Makin.

"With the imminent submission of the Varisolve and the good progress in our beads business, we are on track with our strategic priorities and focused on executing our growth strategy."

Shares were up 4.02% to 333.40p at 08:49 Thursday.

RD

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?
UK Economy

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?

John Stepek runs his eye over the chancellor's £30bn stimulus package and asks if it's enough to get the economy back on its feet after months of lock…
9 Jul 2020
An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020